STUDENT FINANCING

Student Loans & Credit

Compare education financing options for tuition, books, living costs, and repayment after school.

Compare school-period and post-graduation repayment options
Review co-signer, eligibility, and repayment requirements
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RateBuddy student loan insight
RateBuddy student loan insight

Compare student financing before borrowing for school

Student financing can include loans, lines of credit, interest-only periods, co-signer requirements, and repayment rules after graduation. Compare the cost and flexibility before choosing an option.

Use the filters below to narrow student loan matches by amount, credit profile, income range, lender, and must-have features.

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Student Financing Options

Compare student loans and student lines of credit by repayment flexibility, eligibility, co-signer requirements, and borrowing cost.

RBC Royal Bank
RBC Royal Credit Line for Students in Professional Studies
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Flexible Repayment Options
Earn up to 7,500 Avion points when you open a professional student line of credit.
Trusted & secure — no obligation
Welcome Offer

Earn up to 7,500 Avion points when you open a professional student line of credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Flexible Repayment Options Mobile App Available Online Account Management
Highlights & Pros
  • Credit limits are specifically tailored to the higher costs of professional graduate programs.
  • Includes a sign-up bonus of up to 7,500 Avion points.
Things to Consider
  • Variable interest rate fluctuates with the RBC Prime Rate, making long-term cost prediction difficult.
TD Canada Trust
TD Medical, Dental & Veterinary Student Line of Credit
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Earn a $575 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).
Trusted & secure — no obligation
Welcome Offer

Earn a $575 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Online Account Management Interest-Only Payments Available
Highlights & Pros
  • Canadian students attending domestic schools do not require a co-signer to apply.
  • Features the highest promotional cash bonus ($575) for successful applicants.
  • Extended 24-month post-grad grace period gives residents and new practitioners time to establish their careers.
Things to Consider
  • Strictly limited to recognized medical, dental, and veterinary programs.
TD Canada Trust
TD Professional Student Line of Credit
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Earn a $150 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).
Trusted & secure — no obligation
Welcome Offer

Earn a $150 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Online Account Management Interest-Only Payments Available
Highlights & Pros
  • 24-month grace period after graduation provides ample time to secure employment before principal payments begin.
  • Automatically converts into a structured student loan after the grace period for easier debt management.
  • Limited-time cash bonus up to $150 for professional program students.
Things to Consider
  • Must open or hold an eligible TD chequing account to qualify for the promotional cash offer.
BMO Bank of Montreal
BMO Medical or Dental Student Line of Credit
Est. APR
Varies
Loan Amount
Up to $350k
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Welcome bonus up to $500. Earn a $500 cash bonus when you open a BMO Medical or Dental Student Line of Credit.
Trusted & secure — no obligation
Welcome Offer

Earn a welcome bonus of up to $500. Earn a $500 cash bonus when you open a BMO Medical or Dental Student Line of Credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - $350,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Interest-Only Payments Available
Highlights & Pros
  • Massive credit limits up to $350,000 to cover extensive medical/dental school costs.
  • Exceptional "sub-prime" interest rate of Prime minus 0.25% while in school.
  • Interest-only payments while studying and during your initial post-grad period.
Things to Consider
  • Strictly limited to students enrolled in recognized medical or dental programs.
TD Canada Trust
TD Student Line of Credit
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Earn a $100 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).
Trusted & secure — no obligation
Welcome Offer

Earn a $100 cash offer when you apply and are approved by April 30, 2026 (requires eligible chequing account).

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Online Account Management Interest-Only Payments Available
Highlights & Pros
  • Industry-leading 24-month grace period after leaving school before you must start repaying the principal.
  • Interest-only payments are required while actively enrolled in school.
  • Limited-time cash bonus offers for new applicants (up to $100 for undergrads).
Things to Consider
  • Requires booking an appointment in-branch or over the phone to apply.
Alpine Credits
Alpine Credits Education Loan
Est. APR
Varies
Loan Amount
Up to $500k
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Secured Loan
Fast Approval
Online Application
Bad Credit Considered
Funding: 7 Days
Trusted & secure — no obligation
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $500,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time 7 Days
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Fast Approval Online Application Bad Credit Considered
BMO Bank of Montreal
BMO Student Line of Credit
Est. APR
Varies
Loan Amount
Up to $80k
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Welcome bonus up to $200. Earn a $200 cash bonus when you open a BMO Student Line of Credit.
Trusted & secure — no obligation
Welcome Offer

Earn a welcome bonus of up to $200. Earn a $200 cash bonus when you open a BMO Student Line of Credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - $80,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Interest-Only Payments Available
Highlights & Pros
  • Make interest-only payments while in school and for two years after graduation.
  • No annual or monthly account fees.
  • Only pay interest on the exact amount you withdraw.
Things to Consider
  • Requires Canadian citizenship or permanent residency.
  • A co-signer may be required for approval depending on your credit history.
BMO Bank of Montreal
BMO Professional Student Line of Credit
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Interest-Only Payments Available
Welcome bonus up to $500. Earn a $500 cash bonus when you open a BMO Professional Student Line of Credit.
Trusted & secure — no obligation
Welcome Offer

Earn a welcome bonus of up to $500. Earn a $500 cash bonus when you open a BMO Professional Student Line of Credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Mobile App Available Interest-Only Payments Available
Highlights & Pros
  • Customized, higher credit limits designed for expensive post-grad programs like Law or an MBA.
  • Favorable interest rate of Prime + 1% while actively enrolled.
  • Extended interest-only grace period after graduation.
Things to Consider
  • Rates may increase after graduation according to the agreement.
RBC Royal Bank
RBC Royal Credit Line for Medical and Dental Students
Est. APR
Varies
Loan Amount
Up to $400k
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Flexible Repayment Options
Earn up to 30,000 Avion points when you open a medical/dental student line of credit.
Trusted & secure — no obligation
Welcome Offer

Earn up to 30,000 Avion points when you open a medical/dental student line of credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $0 - $400,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Flexible Repayment Options Mobile App Available Online Account Management
Highlights & Pros
  • Massive $400,000 maximum borrowing limit to cover the full duration of medical/dental school.
  • Front-loaded access: allows you to borrow up to $100,000 in your first year alone.
  • Grants access to the RBC Healthcare Advantage plan for preferred rates on other financial products.
  • Premium sign-up bonus of up to 30,000 Avion points.
Things to Consider
  • Strictly limited to students enrolled in recognized medical or dental programs.
RBC Royal Bank
RBC Royal Credit Line for Students
Est. APR
Varies
Loan Amount
From $5k
Loan Terms
Interest-Only (While in School)
Recommended Score
All Credit Types
Flexible Repayment Options
Earn up to 7,500 Avion points when you open a student line of credit.
Trusted & secure — no obligation
Welcome Offer

Earn up to 7,500 Avion points when you open a student line of credit.

Rates, Fees & Terms
Rate Type Variable
Typical APR Varies
Loan Amounts $5,000 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Flexible Repayment Options Mobile App Available Online Account Management
Highlights & Pros
  • Flexible repayment timelines designed specifically around student needs and graduation.
  • Includes a generous sign-up bonus of up to 7,500 Avion points.
  • Easy access to funds via the RBC Mobile Student Edition app.
Things to Consider
  • A co-signer is generally required if you have a limited credit history or are studying outside of Canada.
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Plan Your Repayment

After graduation, your student line of credit converts to a standard personal loan. Understanding your future monthly payment is the key to a healthy financial start.

  • See your "Interest-Only" payments while studying
  • Estimate your standard monthly payment after the grace period
  • Discover the total interest cost over the life of your loan
1. Your Loan Details
$
%
Post-Grad Monthly Payment
$0
While in school: $0 /mo (Interest-Only)
Total Loan Amount
$0
Repayment Period
0 Years
Total Interest Cost
+$0
Total Cost of Loan
$0
Fund Your Future Today

Secure your student line of credit now to cover tuition, books, and living expenses with low interest-only payments while you study.

Compare Student Lenders
Student Funding Guide

Student borrowing in Canada, explained simply

Students in Canada usually look at two main borrowing paths: government student loans and bank student lines of credit. They are not the same product, and the repayment rules can feel very different after school.

This page is designed to help you compare student-focused borrowing options more clearly, especially if you want to understand how private student lines of credit fit beside government student aid.

What matters most

  • How much you truly need to borrow
  • Whether the repayment structure fits student life
  • What happens during school and after graduation
  • Whether grants or government aid should come first
Two Main Paths

Government student loan or student line of credit?

These two borrowing paths are often compared, but they work differently enough that students should understand the trade-offs before deciding.

Feature Government Student Loan Student Line of Credit
How funds work Set student-loan funding structure Revolving credit up to an approved limit
During school Different repayment rules from private credit Usually at least interest payments while studying
After school 6-month non-repayment period Often interest-only for a limited grace period, then principal plus interest
Extra support Repayment Assistance Plan may be available No RAP for private line-of-credit borrowing
A good rule is to understand both paths before borrowing. One product may offer flexibility, but another may offer more borrower protection after graduation.
How It Works

How a student line of credit usually works

A student line of credit is a revolving credit product. You do not automatically use the full limit. You usually borrow only what you need and pay interest only on the amount you actually use.

You’re approved up to a limit

The amount can depend on your program, school, living costs, credit background, and expected ability to repay later.

You borrow only what you use

Interest usually applies only to the portion actually borrowed, not the full approved limit.

You need a post-school repayment plan

Many lenders allow a limited interest-only period after graduation, but that does not remove the need for a real payoff strategy.

Best mindset: use a student line of credit for genuine education-related needs and keep the balance as lean as you reasonably can.
Lifecycle Guide

How a student line of credit usually unfolds

A student line of credit often feels simple at first, but it usually moves through two very different phases: your school years and your post-graduation repayment period.

Phase 1

While you are in school

During school, you may be approved for access up to a borrowing limit and draw only what you need. In many cases, the required payment while studying is lighter than a normal loan structure and may focus mainly on interest.

Main idea: this stage is about flexible access to funds, not full repayment yet.
Phase 2

After graduation or after studies end

After school, many student lines of credit move into a more serious repayment phase. There is often a limited transition window, then the focus shifts to paying both principal and interest over time.

Main idea: this is where the real long-term repayment plan begins.
Simple takeaway: a student line of credit can feel manageable during school, but the bigger financial test usually comes after classes end and full repayment begins.
Co-Signer & Cost Basics

What students and families should pay attention to

Many students may need a co-signer for a student line of credit. That means another person can be responsible for the debt too, so the decision should be discussed clearly before anyone signs.

Co-signer reality

  • A co-signer can be required for some applications
  • The co-signer also takes on repayment responsibility
  • Everyone should understand the risk before agreeing
  • It should be treated like a real financial commitment, not a formality

What to compare carefully

  • Interest rate and how it behaves
  • Repayment terms during school and after graduation
  • Any optional insurance or add-on products
  • How much total debt you may carry when studies finish
Smart question: if a parent or co-signer is helping, does everyone understand both the best-case plan and the fallback plan if repayment becomes harder later?
Family Discussion Point

A co-signer is not just a reference

If a student line of credit requires a co-signer, that person is usually taking on real legal and financial responsibility for the debt. This is not just a formality or a supporting name on the application.

Before signing anything, the student and co-signer should talk through the borrowing amount, expected graduation timeline, repayment plan, and what happens if income is delayed or the repayment period becomes harder than expected.

What should be discussed clearly

  • How much borrowing is truly needed
  • Who is expected to repay and how
  • What the plan is after graduation
  • How both sides will handle repayment stress if it happens

Why this matters

  • The co-signer can still be responsible if the student cannot pay
  • Debt can affect family relationships if expectations were unclear
  • Borrowing more than necessary increases pressure later
  • Good communication early can prevent bigger problems later
Borrow Smarter

What to try before borrowing more than you need

Borrowing may be necessary, but it should not automatically be the first or only option. A smarter plan often starts by checking lower-cost funding sources first and borrowing only what is still genuinely needed.

Check grants and scholarships first

Grants, bursaries, scholarships, and provincial aid can reduce how much debt you need to carry later.

Know the support differences

Government student loans may come with repayment support tools that private student lines of credit do not offer.

Borrow lean

Borrowing only what you need for school costs can make graduation and repayment much less stressful later.

Good long-term move: think about repayment while you are still choosing the borrowing product, not only after school ends.
Popular Questions

Student borrowing FAQs

Clear answers to common questions students ask when comparing student loans and student lines of credit in Canada.

A student line of credit is a revolving borrowing product, while a student loan follows a different student-loan funding and repayment structure.

Usually no. You generally pay interest only on the amount you actually borrow, not the full approved limit.

Yes. Some students may need a co-signer, and that person can also become responsible for the debt if it is not repaid.

Government student loans and private student lines of credit usually have different repayment rules after school, so the transition terms should be checked carefully before borrowing.

Yes. Government student loans may offer access to the Repayment Assistance Plan if you are having trouble with payments.

Yes. Grants, bursaries, scholarships, and provincial aid can reduce how much debt you need to take on.

Compare student financing with less guesswork.

Review student loans and student lines of credit for tuition, books, living costs, and funding gaps, then compare repayment timing, co-signer requirements, and lender fit.

  • Compare student financing options
  • Review interest-only and repayment features
  • Compare before starting an application
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